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20131210
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deficit through chapter 9 bankruptcy. but as the court ruling showed, it was rushed into bankruptcy. governor schneider did not use bankruptcy as a last-ditch effort to save detroit. he used it as a first-ditch effort to make sure his buddies on wall street get paid first. the banks are at the front of the line, with their hand out, looking for the money that detroit generates. detroit is not broke. detroit generates nearly $2 billion in revenue in tax revenue every year. not only that, the governor had his eye on the pension fund, since he got into office. so, you know, for us, we pay taxes, because we want services. kevin orr does not understand how to deliver that service. he does not understand how to run a city. he understands how to take companies through bankruptcy. >> yeah. >> and if anybody thought that anything but bankruptcy was going to be the outcome when jones day and kevin orr is there, and then they hire all the consultants that come in from wall street, myers brinkerhoff gobbling up $5 million a month in tax revenue from the citizens of detroit and not putting a pol
of a government shutdown in january. but it would provide little long-term deficit reduction and there remains a sticking point over unemployment benefits and republicans don't believe the democrats are entirely serious about that. it's come up late in the process. not sure if the white house is going to insist on that happening. another potential sticking point may be whether or not there's any long term deficit reduction in the deal if they just raised the sequester caps and substitute one set of cuts for the other, there wouldn't be deficit reduction. there's some talk that the revenue components would be dedicated to deficit reduction. but we have to wait and see happens next week. this congress is unpredictable. >> house defense chairman buck mccann, he wants $20 billion more, because defense gets killed in the sequestration. he has defense hawks that will vote against it if they don't get their $20 billion and that means john boehner doesn't have 218 votes. >> he may not have 218 votes, but look, any accommodation you make like that from -- to assist the defense is going to squeeze the o
. had he to raise taxes in order to cut the $11 billion deficit. raising taxes is not something that's designed to make you very popular as well as cutting government spending. i spoke with the finance minister and he's pretty b buoyant. the public outcry on that, people are pretty pleased. i did ask him, is this just kicking the can down the road. take a listen. >> we have to reduce government expenses in a way that will not hurt all the services we want to give to the government. the fight for efficiency in all the governments around the world is a hard fight. we know now things we didn't know before about how to do it because we've been doing it for quite a while. this is why things are better now. i think we're going to have a new fiscal rule which will allow us to reduce government expenses in a way that will allow us not to raise taxes. >>ing where do you see that in order not to raise taxes in 2014, 2015. >> i can tell you we're not going to hurt the budgets of education because we are an education modulated government and of course health and welfare. these are the budgets th
by friday's deadline. the plan doesn't significantly reduce the deficit or, indeed, replace the sequester budget cuts. what does it do? we'll get into that a little bit later. >>> meanwhile, 203 jobs created last month. nonfarm payroll showed the jobless rate down to 7%. the better than expected numbers increase the speculation that the fed might stop. don smith joins us for more. don, very good morning to you. i see on a reuters survey there are now four that expect december or january, five in january. quite a significant move from the survey in october. what are your own thoughts? why wouldn't you go next week if you were the fed? >> well, exactly. there's still so much uncertainty in the market about will they or won't they. yet the market thinks at some point in the next few months it is inevidenceable. i think why not get the tapering out of the way, the announcement in december, even if it's a preannouncement to take effect from january. i think the bond market reaction to the pretty strong payroll report on friday taught us quite a lot, actually. we didn't see very significant sel
their budget deficit targets. the brussels, frankfurt, berlin group will be trying to force them to comply. >> charles dumas, staying with us. >>> coming up on today's show, let me tell you what's ahead. taper talks go into overdrive as markets await the u.s. jobs report. but as experts look at last month's numbers, we assess how this could affect strategy. >>> and capital markets dry up in the sector, we'll discuss where to find value at 1020 cet. >>> the race is on to name asia pacific's number one tech hub. we'll take a look at the fastest growth technology firms. >>> and world cup fever hangs in the balance as nations find out who they are playing. we'll discuss the travel implications at 1045 cet. ya know, with new fedex one rate you can fill that box and pay one flat rate. how naughty was he? oh boy... [ male announcer ] fedex one rate. simple, flat rate shipping with the reliability of fedex. >>> deal or no deal? the wto is trying to reach an agreement. >> the right to food security of the poor people, then only they will be saved. strengthening of wto is a shared responsibility of
to suggest that budget deficits are created by the poor. you know, you mentioned walmart and others who pay a sub minimum wage, essentially, the minimum wage isn't worth what it was in 1968. and they get -- that cost us $7 billion in just food stamps alone, because those people don't have enough money to stay out of poverty. they're against increasing the minimum wage, and they're against these people having enough money for food and their family. they know the fact that most of the studies show that most -- so many people on food stamps run out of food. the third week of the month. that when they have the money for food, et cetera $1.40 per person, per meal. they know how difficult it is for them to have the necessity. but that's not their political agenda. their political agenda is to demonize it. that's why they fight back so hard when the pope suggests that we should appeal to our better humanity, and care for these people and be concerned about these people. and try to get them up on their feet and get them proddive in society and provide the mechanisms to do that. that's what the pope
to be creative about how you drive down their catch throw deficit. but the way to do it, and tragically the bankruptcy court can't order the state to kick in a little money, to put back the $47 million they paid, that's the way to do it. so -- >> so if they wanted to reinstate that revenue sharing they took away, you could create a cash flow to get their head above water? >> yes, and you could do it that way instead of bankruptcy. >> when you look at the number of bills passed by the house and the paltry number of bills passed by the senate you can see where the problem is. >> yes, we can. and we'll talk about it next. it's the little things in life that make me smile. spending the day with my niece. i don't use super poligrip for hold because my dentures fit well. before those little pieces would get in between my dentures and my gum and it was uncomfortable. even well-fitting dentures let in food particles. super poligrip is zinc free. with just a few dabs, it's clinically proven to seal out more food particles so you're more comfortable and confident while you eat. so it's not about
than 3%, cut the deficit by almost $200 billion over ten years, savings from new workers, new businesses and new taxpayers. those numbers were not lost on the party's fiscal hawks. >> i'm not aware of any trade association, any major or minor business group that doesn't recognize we need more people, business, and fiscal workers. >> and they recognized the historic vote, with the republican party's renewed political life. >> i know that everything is not going to change in a year. but if we don't start now we're not going to have anymore success in four years, eight years or 12 years. >> joining me now back in this reality, is the president of the national council. based on the surprising staffing choice, janet, this staffing choice, staffing choice of members of congress don't normally make news, but this one did. it got tons of attention, the senators tweeting congratulations. why all the hubub about a staffer? >> well, i think it is important, as somebody who worked on capitol hill, i understand how important staff can be. there is no question that the speaker sends an impo
. the possibilities of how to cut the deficit, that's all been discussed over and over ad nauseam again. if we talk about spectrum sales one more time, i think people will start passing out. it's all about the political will. is the political will there this time? >> the calculation has been the pain will inspire political will. we haven't seen this before. every time people say it's going to be fine, we're not going to have a shutdown or play chicken with the fiscal cliff and we do. here's what's perhaps a little bit different, the fact they're negotiating in good faith in private is good. the question will be can republicans accept any revenues from closed loopholes or is that off hand? >> they need to cut. they're on solid ground in terms of wanting to cut. they voted for the sequester. that was a mistake. i like the quiet. >> reality check here, both the democrat and republican version are austerity budgets, the question to what degree. >> hopefully they do the smart thing administratively and give the power of cutting back to the agencies. these guys shouldn't be figuring what cuts to make. >>
for defense department, 45% for domestic programs. does not decrease the deficit. offset by additional revenue and budget cuts. they would not be tax increases and not cuts to medicare and social security or agriculture program but much more mundane things like fees and asset sales and cushing federal retirement, all ways in which the congress hopes it can avoid a shutdown in january and get us back into more stable budgeting environment. >> when is a fee a fee and a tax a tax. john harwood will explore that in the days ahead. >>> we've heard from fast woodworkers, economists on the debate. today an industry executive to tell us what it will really mean for his business. joining me, jamie richardson, vice president of white castle. thank you for being here. >> good to be with you, kelly. >> you say if we raise the minimum wage, president says from $7.25 an hour to, perhaps, $10 an hour. what the direct effect on white castle? >> groups pleading to raise the minimum wage to $15 an hour. to more than double the mandated minimum wage, it would be catastrophic for white castle, our team members an
, on the economy, on health care, on the deficit. that's very specific and has an impact on next year's elections. >> tonight, chris will afford us all the opportunity to watch the president of the united states. >> "hardball" is kicking you know what? it's kicking it old school, man. remember we used to watch "who wants to be a millionaire" and regis had to be on every night. chris was on at 2:00 and 3:00, 12 times a day. he's on 7:00 now. boom. the number one show. >> more popular than peanut butter and jelly sandwiches. >> you embarrass me, joe. >> not so easily embarrassed, chris. i assure our audience. >> i think it's interesting, joe. you ask the greatest question tonight. you know the business. i don't usually need them. i enjoy just duking it out with politicians at a distance. i don't need to beg them to come on my show. i always thought, i see the president pop up on different kind of show, entertainment shows like letterman and leno and i'm thinking why can't we get them. they made some decisions in the white house and may have to do with these numbers you guys are talking about. the p
Search Results 0 to 10 of about 11